Descending Parallel Channel

10 Jun 2021

CUMMINSIND

Notes :

• Descending Parallel channel started around 17th March
  
• To be on the safe side, I would confirm breakout only if the most recent swing high is crossed (at 858). However, for intraday, the immediate target after breaking the channel can be kept at the same level.
  
  

Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.

14 Jun 2021

Trade aktif

Still hugging the top trendline..
Even though the candle on 14th June had a low of 811, it closed much higher keeping breakout still in the cards.

15 Jun 2021

Catatan

Looks like a breakout..
Waiting for a candle to close above the previous swing high at 857.
Aggressive traders can use that as the first target intraday (1%)

16 Jun 2021

Catatan

Almost confirmed breakout.. Testing the daily R1 and our previous swing high levels.

Looking forward to a break and close above 857 tomorrow.

20 Jun 2021

Catatan

Keeping the top trendline of the descending channel as a support.

1 Jul 2021

Trading ditutup: target tercapai

Neat break. Taking a swing high as resistance.